Ahead of the Bell: Analyst lifts trucking sector

A Longbow Research analyst upgraded the trucking sector to "Neutral" from "Underweight" Thursday, citing a recent survey in which truckers seem more positive about business improvement going forward than they did just two months ago.

Analyst Lee Klaskow said about 44 percent of respondents expect a positive improvement in their business for the rest of this year, compared with just 15 percent in June.

About 19 percent expect the trucking market to get worse, compared with about 70 percent two months ago.

"While we do not believe we are out of woods yet, the carriers we spoke with were much less despondent than in June," Klaskow wrote in a note to clients.

The analyst said he expects capacity to continue to shrink in the trucking market, spurring demand and improving pricing.

Klaskow also upgraded shares of Heartland Express Inc. to "Buy" from "Neutral," suggesting the trucking company is poised to benefit the most from a pickup in the long haul market.